One of my younger cousins is aspiring to be a fully qualified CA like me. Although he has just begun his college life by opting for commerce stream, he dreams of practicing full-time chartered accountancy just as myself.
Besides, he had even approached me for mindful tips and tricks for studying accounts for CA exams, which he is planning to take within two years.
And I presume, like him, there would be many others out there – who would dream of building up a concrete career in CA. Therefore, as a successful chartered accountant for 5 years now, I would like to extend my help and suggest you all to follow these useful tips and prepare for accountancy in the best way.
When it comes to CA exams, Accountancy plays a major role. It is a practical-based subject and you cannot afford to leave out anything from the vast syllabus.
Still, accountancy is the most scoring subject. In both CA and IPCC, Accountancy holds straight 200 marks out of 700. Well, if paid attention to well, extracting the said marks is not too difficult. Rather, it is only possible with a great amount of hard work, commitment, and dedication.
Accounting Standards play a major role in accountancy, which is why; it covers more than 50% of the question paper. For IPCC, only 18 accounting standards are applicable and expected to be learned well by the student.
Get hold of AS by learning a handful of them in the morning and evening. One need not read all at a stretch, as it could be confusing. It is possible to learn all 18 AS within a period of 10 days – by spending 15 minutes for each in the morning and evening.
Company Accounts, Partnership Accounts, Self-balancing Ledgers, Hire Purchase, and Branch Accounts are most important topics that have great weightage. To score more, theory and miscellaneous topics should not be overlooked for they carry around 30 marks. Hope this helps you all!